Philly factory activity stays weak in July

WASHINGTON (MarketWatch)
Manufacturing activity in the Philadelphia region rebounded only slightly in July, the Federal Reserve Bank of Philadelphia reported Thursday
The Philly Fed diffusion index rose to negative 12.9 in July from negative 16.6 in June
This is the third straight monthly reading below zero, indicating contraction
The increase in the index was smaller than expected
Economists were looking for the index to improve to negative 6.8